Add accounts in USMF

For the second and third exercises to work we need to establish the Accounting Succinctly accounts into the USMF chart of accounts.  Not a clean, elegant solution but it does allow postings to be made and reports to be run based on the case.  Before students begin the following accounts main accounts must be added in USMF.

Main account

Name

Main account type

Main account category

1000AS

Cash-Checking

Asset

CASH

1100AS

Software

Asset

PREPAIDEXP

1200AS

Subscriptions

Asset

PREPAIDEXP

1600AS

Computer System

Asset

OTHERASSET

2000AS

Loan for Computer

Liability

NOTESPAY

3000AS

Owner's Equity

Equity

ADDPAIDINCAPCOM

3100AS

Retained Earnings

Equity

RETEARN

4000AS

Sales Revenue

Revenue

SALES

5000AS

Rent Expense

Expense

OTHEREXP

5100AS

Postage

Expense

OTHEREXP

5200AS

Shipping Supplies

Expense

OTHEREXP

5300AS

Office Supplies

Expense

OTHEREXP

Add Computer Accessories inventory item group

We use an item group CompAcc for Computer Accessories for the portable hard drive products.  An inventory item group 'hides' the posting accounts behind actions involving changes in inventory for an item in the group.  Use Modules | Inventory management | Setup | Inventory | Item groups to create the group and update its accounts to match those of the Audio Products group ... mostly this is adding account 140200 Finished Goods Inventory in several places.

Create IT Lab Site

A warehouse requires a site in Dyn365 FO and having each student create a site and then a warehouse seemed too much clutter.  So one site was created for each student's warehouse to be part of.  To create the site use Inventory management | Setup | Inventory breakdown | Sites to create this